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China: Stocks pull back after rally but resource shares firm
[SHANGHAI] China stocks fell on Tuesday as investors took profits from the previous session's 2 per cent gain, but some analysts expect buyers to return ahead of the annual meeting of China's top legislature next month.
The blue-chip CSI300 index fell 1.0 per cent to 3,089.36 points, while the Shanghai Composite Index lost 0.8 per cent to 2,903.33.
Most sectors fell but resources and energy shares extended their recent rally on a global pick-up in commodity and oil prices.
At the National People's Congress, China's leaders will deliver work reports and the government's next five-year economic development plan will be finalised. Specific business sectors are often singled out for expansion.
The meeting will begin on March 5.